Reading The Markets: Sweden‏

Published 10/11/2013, 06:20 AM
Updated 05/14/2017, 06:45 AM

In late summer, we recommended short positions in Swedish fives versus Bobls. We took profit in the position when the spread reached 110bp (up from 95bp), but at the same time we mentioned that we were ready to take a new short position if the spread tightened again. The generic five-year spread has tightened from around 107bp towards 90bp so we look at what to do from here.

We move from neutral to cautiously positive on Sweden in a relative perspective. However, we see reasons to expect interest rates to continue down for a period both domestically and globally.
Danske Band Markets
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